Research

TIM Brasil (Buy) - Q3 25: Slower top line but solid EBITDA

NTT Corp – Q2 FY25 Quick Take: Better as Mobile ARPU finally inflects

Telefonica CMD Quick Take: After all the hype, just a profit warning

Chinese Telcos – Q3 25 review: Earnings resilient despite muted topline

AMZN: Reiterate Top Pick as OpenAI bull case emerges

META: AI investment = Metaverse investment narrative overdone

MTN Rwanda – Q3 25: Good quarter, solid Fintech

AMZN: Implications of the AWS + OpenAI deal – Is a ChatGPT + AMZN Retail deal coming next?

Bharti Airtel – Q2 FY26 Quick Take: All-around beat, better trends in Home and Enterprise

CHTR: Lowering broadband and EBITDA estimates post 3Q

AMD Model Update

Cloud growth, AI capex, Nvidia Guide, Memory, Auto Semi Cycle and more. Tech Weekly Wrap-up

Cityfibre up, Openreach down

Global EM Telcos & Towers –Back to Black: NSR GEM Top-10 November ‘25 Update 

Orange: Spain buy-in, target increases to €17, +24%; on EFCF per share, Orange could be worth >€23, +65%

Apple 4FQ25: iPhone cycle emerging strong; but valuation is full. Neutral, $270 TP.

TEL 2FQ26: HBM drives beat. More positive tone on 2026. Neutral, ¥33,750.

Tracking the return on AI investment: How is the replatforming going at hyperscalers?

Charter: Subscribers and EBITDA growth heading lower

Amazon's hunger for GW - A sneak peak into 2027 AI Infrastructure growth